Cardiff-based fintech Delio has secured an additional £6.1m in growth funding to cement its position on the international wealth tech scene and expand its offering.
The latest backing of the Welsh fintech comes from Octopus Ventures, one of the most active venture capital investors across Europe. Maven Capital Partners, who led Delio’s Series A round in 2019, is also re-investing in the company, bringing the total equity funding raised to date to over £11m.
The past few years have seen a record level of investment in businesses across Wales, as £129m was invested in Welsh start-ups and scale-ups in 2020 alone. With fintech clusters outside of London strengthening their positions and playing a significant role in the growth of the UK economy, the investment in Delio is another boost for South Wales's reputation as an emerging fintech hub and will bring new jobs to the region.
Delio co-founder and chief executive Gareth Lewis said: “We’re proud to be part of the Welsh fintech growth story. Just a few years ago, Delio had only a handful of staff and a small client base; however since then we have grown the business in a rapid and sustainable way and now work with institutions across Europe, North America and Asia. This investment will allow us to capitalise on this momentum, partner with more global financial institutions, and develop our technology in new and exciting ways.”
Founded in 2016, Delio’s technology enables leading banks, wealth managers and other financial institutions to connect investors with alternative assets such as private equity, private debt, and real estate. With investor demand for access to private markets at an all-time high, financial institutions are investing heavily in digital tools to connect their clients with these highly desirable investment opportunities.
Gareth Lewis explains: “As the Delio story evolves, we firmly believe that the next evolution of private markets will see the need to connect capital raisers, financial institutions and investors on a global, institution-by-institution basis. Thanks to the hard work from everyone in the team, Delio is perfectly positioned to act as the ‘digital plumbing’ for this shift, which will empower financial professionals to collaborate and share investment opportunities across each other’s networks like never before.”
From international private banks to angel networks, more than $26bn-worth of investment opportunities are shared across Delio-powered platforms to date. Among Delio’s clients are Barclays, UBS and Wales-based companies GS Verde Group, Global Welsh and Angels Invest Wales.